Chinese punter refuses to pay back A$8.5m gambling debt

13-05-2014

An Australian gambling parlor has filed a lawsuit against an indebted Chinese player. The casino whale reportedly took out a loan worth A$13 million, which resulted in a A$7 million debt. That amount has mounted to about A$8.5 million due to interest and costs.

Slots or table games?

Crown Casino has informed the high roller about the outstanding debt, but he hasn’t responded up till now. The lawsuit doesn’t mention if Li spent the money on slot machines or table games. Li starting borrowing huge amounts three years ago.

High roller gambling spree

Mid-2011, Crown Casino lent him A$6 million. In October of that year, the casino whale kicked off a 13-day gambling spree. Two weeks later, he asked the casino to upgrade his debt limit to A$10 million, which the casino approved. Li continued his gambling spree and requested another A$8 million credit facility. The Chinese high roller finished his gambling splurge with a A$6,895,632 debt.